W&C Volume Growth (Q4)
10%
+10% YoY
Overall volume growth in wires and cables for Q4 FY26; cables grew high teens, wires mid-single digit.
RRKABEL
Other
13 May 2026
R R Kabel Ltd — Q4 FY26
RR Kabel delivered a strong Q4 FY26 with revenue of ₹2,964.1 Cr (+33.7% YoY) and EBITDA of ₹263.5 Cr (+34.6% YoY), driven by robust wires & cables demand across domestic and export markets.
✓ Verified against BSE filing
2-Min Summary
RR Kabel delivered a strong Q4 FY26 with revenue of ₹2,964.1 Cr (+33.7% YoY) and EBITDA of ₹263.5 Cr (+34.6% YoY), driven by robust wires & cables demand across domestic and export markets. The W&C segment grew 36.3% YoY, while FMEG revenue rose 13.8% YoY with losses narrowing. Management reiterated its Project Rise targets of 16-18% volume CAGR in W&C and 25% CAGR in FMEG, aiming for 9.5% W&C margins in FY27 and FMEG breakeven by FY27. The ₹1,200 Cr capex plan is on track, with cable capacity additions every six months. Key risk: prolonged Middle East disruption could impact ~12% of revenue from that region, though management expects mitigation via other geographies.
Key Numbers
Export Contribution to W&C Revenue
30%
Flat YoY
Exports contributed 30% of W&C revenue in FY26; Middle East accounted for 40% of exports (~12% of total revenue).
Cable Capacity Utilization
>90%
Flat YoY
Cable capacity utilization remains above 90%, driving need for ongoing capacity expansion every six months.
FMEG Revenue Growth (FY26)
3%
+3% YoY
FMEG segment grew 3% in FY26; management targets 20-25% growth in FY27 with breakeven expected.
Management Guidance
W&C Volume CAGR of 16-18%
Management reaffirmed Project Rise target of 16-18% volume CAGR in wires and cables over three years, with FY27 expected to be within this range.
growthW&C Segment Margin of 9.5% in FY27
Targeting 9.5% EBITDA margin for wires and cables in FY27, part of a 300 bps improvement plan by FY28.
marginsFMEG Breakeven in FY27
FMEG segment expected to achieve breakeven in FY27, after delays due to weather and input cost volatility.
marginsCapex of ₹1,200 Cr for FY26-28
Capex program on track; ₹300-350 Cr invested in FY26, with major spending in FY27 to expand cable capacity up to 220 kV.
capexKey Risks
Middle East Export Disruption
Prolonged geopolitical tensions in the Middle East could impact ~12% of total revenue, as exports to the region were disrupted in March and continue into April.
high · management_commentaryRaw Material Volatility
Volatile copper, aluminum, and PVC prices create uncertainty in margins; pricing actions are continuous but may lag.
medium · management_commentaryFMEG Turnaround Delays
FMEG breakeven target slipped from FY26 to FY27 due to weak demand and input cost pressures; further delays possible if conditions worsen.
medium · analyst_questionInventory Gain Normalization
Q4 benefited from positive inventory gains; if copper prices stabilize, margin expansion may slow, making it harder to hit 9.5% target.
medium · data_observationNotable Quotes
We delivered our highest ever quarterly and annual revenue supported by steady demand and disciplined execution across the business.
Our wires and cable business remain the key growth driver for the company and delivered a strong performance and record of profitability during the quarter and for the full year.
We remain on track towards these targets through focused execution.